Saved Again, For Now

29 Oct 2004

As I alluded to a couple of days ago, my employer was once again on the brink of insolvency this week. And once again, they have won a reprieve, for at least a few weeks. The employees agreed to defer most of their October salaries until December, when a recapitalization is planned, a condition for new investors. In return, the company paid the rest of our September salaries today. The future of the company is no more secure than before, but at least there is a plan for pulling away from the brink, which is something to say for the new management.